June, 2018

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The difference between FinTech and TechFin

Chris Skinner

There’s lots of friction around these days. Banks that get digital and banks that don’t; fintechs that want to change everything and fintechs that don’t; digital currencies to replace fiat currencies and fiat currencies that are going digital; destruction, disruption and disappointment; and more. It just shows the world of … The post The difference between FinTech and TechFin appeared first on Chris Skinner's blog.

Fintech 382
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2018 Innovators to Watch: 44 Executives Shaping the Future of Banking [Page 1]

Bank Innovation

PREMIUM – Every year Bank Innovation assembles a list of 44 innovators that caught our attention in digital banking and fintech. These are the people Bank Innovation believes to be this year’s movers and shakers in the industry, paving the way with forward-thinking technologies and ideas. This year the list contains a variety of innovators […].

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Gen Z through the mobile payments lens

Payments Dive

Gen Z is on the scene and ready to leave their own mark on banking and payments. This latest generation, born after 1999, view the world completely differently than those who have gone before.

Mobile 322
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Santander, Ripple Use Blockchain To Settle Global Payments

PYMNTS

Beyond the vagaries of cryptocurrencies, the price swings and headlines, and the investigations and speculation, use cases emerge. If entranced by bitcoin’s ebbs and flows, one would be forgiven for being caught off guard (if they are, in fact, off guard) to find that a major bank is coming to market with a service backed by blockchain, which now is live and available — and can help make sure that funds cross borders with speed and surety.

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The State of Automation in Financial Services 2024 Report

In this report, you’ll find a comprehensive analysis of survey responses from executives at banks, credit unions, and insurance companies concerning their organization’s current and future use of automation. The report’s key insights include: Which types of automation are saving organizations the most time and money How to overcome the biggest barriers to automation implementation and adoption Why automation investments will continue to grow over the next few years How much you could save in 202

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Despite the 'anonymity,' there are ways to fight blockchain laundering

Payments Source

Since addresses are recorded in the blockchain, it is possible to trace each transaction where the address was used, which aids in AML, according to Ron Teicher, CEO of EverCompliant.

More Trending

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The Amazonisation of?Banking

Chris Skinner

Last week, our good friend Dave Birch posted a great blog about the Amazonisation of Banking, most of which I agreed with. So I asked Dave if I could repost it here and he said “yes, of course” Thanks Dave. Enjoy! The Amazonisation of Banking… …is very different from Amazon being … The post The Amazonisation of Banking appeared first on Chris Skinner's blog.

Course 377
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Where is PayU Headed? Follow the Money

Bank Innovation

Emerging markets payments platform PayU is building an in-house data science team. The company’s latest rounds of investment and acquisitions pointed to something big, and this seems to be part of it. For instance, late last year PayU’S parent company Naspers invested $115 million in remittance startup Remitly. This was preceded by a €110 million ($127.8 […].

Data 311
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How can real-time payments be secured?

Payments Dive

With account-based fraud on the rise, the move from standard to real-time transactions is causing significant security challenges for central banks and clearing houses.

Security 308
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Secure By Design: Why Privacy Must Be Baked In To IoT Devices

PYMNTS

A connected world is a convenient world for both work and play. Too often, however, the price of convenience is privacy. If data within the Internet of Things (IoT) is not secured properly, it puts people’s overall safety in jeopardy — and it’s not just about loss of sensitive personal data. In fact, according to UL , the even greater threat is that an attacker could take over the functionality of poorly secured devices.

Security 197
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Why Is CRE Lending Stuck in the Past? Top 3 Reasons for Digital Resistance

Commercial lending is on the verge of a resurgence, but traditional processes are an obstacle. Explore the top 3 reasons for resistance to digital transformation and how overcoming them can pave the way for growth and efficiency. Discover why embracing automation and digital solutions is crucial for success in today's competitive landscape. Discover how GoDocs helps commercial lenders in the digital era with seamless integration and a borrower-focused approach.

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How Open Banking will blow core systems out of the water

Insights on Business

Banks operating on legacy architecture will find it increasingly difficult to compete in an API-driven business environment, says Hans Tesselaar, executive director at BIAN. There are three key acronyms that have topped the agenda in banking technology discussions in recent years – APIs, PSD2 (Payment Services Directive II) and DLT (Distributed Ledger Technology).

System 130
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EU start-up initiative â??too lateâ?? to compete with US and China

Bobsguide

Earlier this month, France and Germany teamed up to demand an EU-wide initiative designed to fund innovation and research in tech start-up projects to compete against China and the US fintech markets. But Spiros Margaris, venture capitalist and senior advisor at Arbidex, suggests it is too.

US 127
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Alibaba versus Tencent: who will win?

Chris Skinner

I bet you were wondering why I hadn’t written an Ant update recently. Well, I thought it was getting too much … but then I just arrived in Hong Kong and the hotel has kindly given me a copy of Fortune magazine with the headline cover page talking about the … The post Alibaba versus Tencent: who will win? appeared first on Chris Skinner's blog.

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Should a Bank?s API Collection Be Considered a Channel or Product?

Bank Innovation

PREMIUM — APIs -- application programming interfaces -- are still in their early days in banking, but are starting to show their promise. Data is flowing from your account to third party service providers in your mobile device and beyond, so you are never far away from knowing how much money you don't have. APIs […].

Mobile 303
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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What can US retailers learn from China about mobile payments?

Payments Dive

The success in China is largely driven by consumers' adoption of mobile wallets like Alipay and WeChat/Ten Pay, which make up the majority of the mobile payment market.

Mobile 292
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For FinTech And FIs, APIs Everywhere (It Seems)

PYMNTS

Payments are getting ever faster and global in nature. Real-time payments are becoming part of the landscape. PSD2 is reality and open banking is fostering demand for open APIs. To that end, collaborative efforts between banks and FinTechs are on the rise, where joint programs seek to hasten the availability of technology that dovetails with open banking.

Fintech 186
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Data: How mobile is shaking up prepaid

Payments Source

Mobile and digital technology are expanding use cases for reloadable prepaid cards beyond their heritage as a tool primarily for the unbanked consumers. Furthermore, mobile commerce is driving broader acceptance of digital versions of both prepaid and retail gift cards.

Mobile 127
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Evolution through digital reinvention in banking

Insights on Business

Today’s banking systems evolved from the first merchants bartering and carrying goods between early villages and towns. From there, banking expanded across the world in the form of lenders supporting trade across the Silk Road in ancient Greece, the Roman Empire, and the Han Dynasty. Our most closely related banking systems evolved in medieval and Renaissance Italy where banking branches were established throughout Europe.

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2024 Lending Outlook: Innovations and Evolutions in the Financial Sector

As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. For banks and financial institutions to stay competitive and meet the evolving needs of their customers, these drivers must be understood and engaged with. Lenders can anticipate significant transformation fueled by technological advancements, regulatory shifts, and changing consumer behaviors.

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Cryptocurrencies Fail The BIS Test (bitcoinistas aren?t going to like this)

Chris Skinner

The Bank for International Settlements (BIS), the guys who are responsible for Basel regulations and act as the global central bank to all the central banks, caught global headlines yesterday by saying that bitcoin will break the internet. Wowser. I couldn’t ignore this and neither should you so here’s a … The post Cryptocurrencies Fail The BIS Test (bitcoinistas aren’t going to like this) appeared first on Chris Skinner's blog.

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Mastercard API for Conversational Commerce Still in the Works

Bank Innovation

PREMIUM -- This past spring, Mastercard debuted a voice-assisted ordering and payment service at Pizza Hut in Singapore with the help of Softbank’s robotics division. But an application programming interface (API) that would allow for any developer to build a Mastercard "conversational" payments application remains in development. The payments network is working on the API now, but […].

Payments 299
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Are consumers pushing back against the cashless trend?

Payments Dive

Danny Meyer, Union Square Hospitality Group CEO, recently penned a blog post about why his restaurants will continue to go cashless. But is that really what consumers want?

Trends 284
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Housing Supply And Demand Imbalance Drives Home Improvement Store Sales

PYMNTS

Millennials are finally moving out of mom and dad’s house and creating their own households, which has increased demand in the housing market. At the same time, supply has taken a hit due to a shortage of skilled labor. Rising mortgage rates and lumber prices are only compounding the problem. This imbalance of supply and demand is proving to be a perfect storm for home improvement chains.

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Addressing Top Enterprise Challenges in Generative AI with DataRobot

The buzz around generative AI shows no sign of abating in the foreseeable future. Enterprise interest in the technology is high, and the market is expected to gain momentum as organizations move from prototypes to actual project deployments. Ultimately, the market will demand an extensive ecosystem, and tools will need to streamline data and model utilization and management across multiple environments.

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Vendors are missing the complex cross-border B2B compliance burdens

Payments Source

The Patriot Act, for example, requires all U.S. businesses to comply with regulations issued by the Office of Foreign Assets Control. Those that fail to comply, knowingly or inadvertently, are susceptible to significant fines and even legal action, writes Peter Shore, general manager of Transpay.

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Mind the gap: skills for working in the bank branch of the future

Bobsguide

Despite regular news about closures, the death of the bank branch is rather exaggerated. Even with cuts, major high street banks expect to retain nationwide branch networks, and many are investing in new branches. Challengers like Metro Bank are even opening more branches. Branches have been.

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Banks are losing the data war

Chris Skinner

For some time now, I’ve been reflecting on a conversation about Monzo. It relates to my write-up the other day on new bank thinking, and that Monzo are clever with data. Using Google Map APIs and other services, they enrich my transaction statement so I know when, where and what … The post Banks are losing the data war appeared first on Chris Skinner's blog.

Data 338
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Mastercard and Diebold Nixdorf Update the Cardless ATM

Bank Innovation

The cashless society we’ve been promised is still years away, and in the meantime, ATM innovation continues. A new venture between Mastercard and Diebold Nixdorf, a global ATM provider, sits at the intersection of mobile transactions and cash. Mastercard Cash Pick-up, announced yesterday, enables users to have cash dispersed without a bank account or even […].

ATM 296
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Need Curated Pre-foreclosure Lists to Generate New Real Estate Leads? Trellis Has the Data!

Trellis is a state trial court research and analytics platform that provides Real Estate Professionals (Buyers, Foreclosure, Loan Modification, etc.) with LEADS on Pre-Foreclosures, Lis Pendes, Distressed Assets and more — to help uncover **new** opportunities and grow their business. The process is quick and easy — and all in real time. Trellis will supply you with a link to the relevant dockets, a Leads sheet and access to its UI where applicable.